A couple who want to live in a major New Zealand city and have a comfortable retirement would need about $486,000 based on the spending of today's retirees, research has found. To pay for that gap a couple would collectively need to have $486,023 in savings by age 65. Massey University's Claire Matthews, who undertook the research, said the information was designed as a guide to help people develop a projected budget for living in retirement. The research also highlights how much a person who is 50 now would have to save to get to either a no frills or choices retirement budget if they haven't already started. A couple who want to live in the city and have choices would need to save $608 a week to get there by age 65.

Source: New Zealand Herald July 05, 2017 17:03 UTC